Hardware Security Firm Axiado Banks $25M Investment
Axiado Corp, a hardware security firm based in San Jose, Calif., has banked $25 million in what is being described as an “oversubscribed” Series B funding round.
The company is building a Trusted Control/Compute Unit (TCU) product that is being positioned as a new class of security processors that provide platform root-of-trust for large enterprise customers.
Axiado, which employs approximately 40 in Silicon Valley, said the $25 million Series B investment brings the total raised to $40 million.
The round was led by Series A investor Orbit Venture Partners and included investments from a handful of private investors.
Axiado chairman Dave Welch said the Series B funding reflects the support from investors and customers and provides capital to launch the TCU to address the growing problem of ransomware and cyberattacks.
The four-year-old startup is billing its TCU as a “a new category of processors dedicated for security.” The company said it its technology uses a silicon-based approach to manage critical boot- and run-time security across the entire connected infrastructure.